Producer price index usually for shadows consumer pricing.
Cost pressures keep building, according to new data on wholesale prices, Matt writes.
Driving the news: The Producer Price Index, which measures prices before they reach consumers, surged in January, rising 1% from the prior month. Economists thought it would be up just 0.5%.
Year-over-year prices were up 9.7%, down slightly from 9.8% in December.
Wholesale prices typically filter through to consumers over subsequent months. In other words, inflation likely won’t ease any time soon.Axios Markets
By Emily Peck and Matt Phillips ·Feb 16, 2022